Kamino Finance/Tether (KMNOUSDT) Market Overview

Summary
• Price declined from 0.0645 to 0.0631 after a sharp morning high.
• Strong intraday volatility noted with a high-low range of ~0.00248.
• Volume increased during key bearish reversals, particularly post-15:00 ET.

Market Overview

Kamino Finance/Tether (KMNOUSDT) opened at 0.0631 at 12:00 ET−1 and reached a high of 0.0645 before falling to a low of 0.06204. The pair closed at 0.0631 at 12:00 ET. Total volume over 24 hours was 57,088,631.0 with a turnover of $3,592,002. The price action shows signs of bearish exhaustion and potential short-term support at key levels.

Structure & Formations

The 15-minute chart displays multiple bearish reversal patterns, including a bearish engulfing pattern around 15:45–16:00 ET and a key rejection at the 0.0634–0.0636 resistance cluster. Price appears to be consolidating near the 0.0631–0.0634 range, which could act as a short-term support and pivot zone. A potential test of the 0.0625 level is possible if the current bearish momentum continues.

Moving Averages

On the 15-minute chart, the 20-period moving average crossed below the 50-period MA, indicating a bearish signal. On the daily chart, the price is currently below the 50, 100, and 200-day MAs, reinforcing a longer-term bearish bias. The convergence of these averages near 0.0633 suggests a key psychological level to watch for near-term direction.

MACD & RSI

The MACD line crossed below the signal line, indicating bearish momentum. RSI has fallen to ~53, suggesting a potential oversold condition. While not extreme, this could be seen as a short-term buying opportunity if the price stabilizes near 0.0631. However, the bearish divergence between price and RSI remains a concern.

Bollinger Bands

Price action recently touched the lower Bollinger Band, indicating a potential oversold condition. The bands are relatively narrow, suggesting a period of low volatility may precede a breakout or reversal. If the price fails to break back above the middle band, further consolidation or a bearish continuation could follow.

Volume & Turnover

Trading volume spiked during bearish reversals, particularly in the 15:30–16:45 ET window, confirming bearish sentiment. However, notional turnover did not rise in tandem with price declines during these hours, indicating possible divergences in market conviction. The highest turnover occurred around the 0.0640–0.0645 level during the morning rally.

Fibonacci Retracements

Applying Fibonacci to the recent 0.06204–0.0645 swing, the 0.0631 level aligns with the 38.2% retracement and appears to be holding as a key support. A break below this level could target the 61.8% at 0.0628, with 0.0625 as the next critical threshold. Daily-level Fibonacci levels suggest a bearish path to 0.0622 and possibly 0.0615.

Backtest Hypothesis

A potential backtest strategy would involve detecting bearish engulfing patterns on the 15-minute chart and entering short positions at the close of the engulfing candle. However, the backtesting engine has returned an error related to missing price data for KMNOUSDT. This could stem from incomplete or unavailable historical data on the specified ticker across supported exchanges. To proceed, we recommend confirming the exact ticker symbol (e.g., KMNO-USDT), providing an alternative data source, or narrowing the test period to 2023 onward. If data is unavailable, consider switching to a better-supported symbol for testing.